Sterling Infrastructure (NASDAQ:STRL) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $144.38 and traded as high as $172.37. Sterling Infrastructure shares last traded at $167.73, with a volume of 251,720 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Sunday, September 15th.

Sterling Infrastructure Price Performance

The company’s 50 day simple moving average is $179.44 and its 200 day simple moving average is $144.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $5.15 billion, a P/E ratio of 28.33, a P/E/G ratio of 2.02 and a beta of 1.22.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The business had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. During the same quarter last year, the business posted $1.26 EPS. As a group, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the sale, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Several institutional investors have recently added to or reduced their stakes in STRL. State Street Corp raised its stake in shares of Sterling Infrastructure by 0.7% in the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after purchasing an additional 5,106 shares during the period. Robeco Schweiz AG bought a new position in shares of Sterling Infrastructure during the second quarter worth about $1,420,000. Principal Financial Group Inc. raised its position in Sterling Infrastructure by 1,088.1% in the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after buying an additional 325,620 shares during the last quarter. Algert Global LLC lifted its stake in Sterling Infrastructure by 34.0% in the 3rd quarter. Algert Global LLC now owns 26,141 shares of the construction company’s stock valued at $3,791,000 after acquiring an additional 6,630 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Sterling Infrastructure by 22.9% in the 3rd quarter. Stifel Financial Corp now owns 23,418 shares of the construction company’s stock valued at $3,396,000 after acquiring an additional 4,359 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.